Turkey's Current Account Gap Narrows In March

Turkey's current account deficit narrowed from a year earlier in March, data published by the central bank showed Friday.

The shortfall declined to $6.12 billion from $9.55 billion deficit recorded during March last year. In February, the deficit on the country's current account was $4.2 billion.

The balance on goods account was in a deficit of $6.04 billion compared to deficit of $8.3 billion a year ago. The shortfall on services was $5.24 billion compared to a surplus of $567 million last year.

The deficit on income account was $6.2 billion, while current transfers resulted in a net inflow of $65 million. Foreign direct investment in Turkey rose to $2.8 billion in March.

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